股份代號 : 6913 （於開曼群島註冊成立的有限公司） STOCK CODE : 6913 (Incorporated in the Cayman Islands with limited liability) SOUTH CHINA VOCATIONAL EDUCATION GROUP COMPANY LIMITED 中國華南職業教育集團有限公司 2024 年度報告 ANNUAL REPORT 目錄 頁次 公司簡介 2 公司資料 4 財務摘要 6 主席報告 7 管理層討論與分析 10 董事及高級管理層 22 董事會報告 34 企業管治報告 78 環境、社會及管治報告 96 獨立核數師報告 135 綜合損益及其他全面收益表 143 綜合財務狀況表 144 綜合權益變動表 146 綜合現金流量表 148 財務報表附註 151 公司簡介 中國華南職業教育集團有限公司（「本公司」）連同其附屬公司（統稱為「本集團」）是融學歷職業教育、職 業培訓、技師研修、競賽集訓、技能評價、就業服務、創業孵化為一體的綜合技能人才培養服務提供 商，堅持「以服務社會為宗旨，以就業創業為導向，以學生成才為中心，以能力培養為重點，培養具有 ...

岭南现代技师学院设有8个院系，提供超过38门专业,包括但不限于机电一体化、无人机、汽车检测与维 修、消防工程、中药、康复、护理、广告设计、计算机网络应用、计算机程序设计及数字媒体应用等。 伴随着经济转型、人口老龄化趋势的到来等因素,大湾区对新兴产业及大健康相关产业的技能人才需求 将越来越大。华南职业教育积极布局新兴产业专业课程，不仅增加了对生源的吸引力，为生均学费提升 打下扎实基础，也为就业率提升提供助力。 其次，不断探索校企合作新模式，以产教融合助推高就业率。 华南职业教育与京东、腾讯等知名企业签约深度合作。岭南职业技术学院以广东产教融合示范园区（清 远）建设发展与产业学院拓展协同并举，围绕"信息工程、新材料、大健康、电商科技"四个方向与知名 企业进行合作探索。岭南现代技师学院积极参与广东省"产教评"技能生态链建设，实现学生毕业即入职 的"订单班"模式。围绕人工智能、大资料、云计算等新兴技术应用的特色产业,构建基于产业和企业岗 位标准的"人才培养、企业服务、学生创业"等功能于一体的"产教评"升学人才培养体系。期内，集团获 评省委书记"三项工程"之一省级"粤菜师傅"培训基地；岭南职业技术学院获评"广东省大学生 ...

（於開曼群島註冊成立的有限公司） （股份代號：6913） 截至二零二四年十二月三十一日止年度 全年業績公告 中國華南職業教育集團有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然宣佈本公司 及其附屬公司（統稱「本集團」）截至二零二四年十二月三十一日止年度（「報告期間」）的綜 合財務報表，連同截至二零二三年十二月三十一日止年度的比較數字。 財務摘要 截至十二月三十一日止年度 二零二四年 二零二三年 變動 變動百分比 人民幣千元 人民幣千元 人民幣千元 (%) 收益 683,617 556,204 127,413 +22.9 銷售成本 493,682 379,704 113,978 +30.0 毛利 189,935 176,500 13,435 +7.6 除稅前溢利 84,859 110,146 (25,287) –23.0 年內溢利 90,892 112,529 (21,637) –19.2 附註： (1) 董事會建議宣派截至二零二四年十二月三十一日止年度之末期股息每股1.3港仙。末期股息將以港 元宣派及派付。 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性 ...

Student Enrollment and Fees - The total number of full-time students in the group's schools for the 2023/2024 academic year was 28,907[16] - The average tuition fee for Lingnan Vocational and Technical College was RMB 17,187, and for Lingnan Modern Technician College, it was RMB 14,204 as of June 30, 2024[16] - The average accommodation fee for Lingnan Vocational and Technical College was RMB 2,048, and for Lingnan Modern Technician College, it was RMB 1,997 as of June 30, 2024[16] Academic Programs and Structure - Lingnan Vocational and Technical College integrated 13 secondary colleges into 8, added new majors such as Oral Medical Technology and Optometry Technology, and offers over 40 majors[12] - Lingnan Modern Technician College has 7 departments and offers over 27 majors, including Mechatronics, Unmanned Aerial Vehicles, and Big Data Applications[13] Revenue and Financial Performance - Revenue increased by 20.8% from RMB 277.9 million in the first half of 2023 to RMB 335.8 million in the first half of 2024, driven by an increase in the total number of full-time students and average tuition fees[27] - Cost of sales rose by 24.6% from RMB 161.9 million in the first half of 2023 to RMB 201.8 million in the first half of 2024, primarily due to increased staff costs, campus property management expenses, and depreciation of property, plant, and equipment[28] - Gross profit grew by 15.5% from RMB 116.0 million in the first half of 2023 to RMB 134.0 million in the first half of 2024, while gross margin decreased from 41.7% to 39.9% due to higher staff costs and campus expansion[29] - Other income and gains decreased by 21.0% from RMB 35.2 million in the first half of 2023 to RMB 27.8 million in the first half of 2024, mainly due to a reduction in training income and loan interest income[31] - Net profit for the period increased slightly by 0.4% from RMB 87.4 million in the first half of 2023 to RMB 87.8 million in the first half of 2024[37] - Revenue for the six months ended June 30, 2024, increased to RMB 335,761 thousand, up 20.8% from RMB 277,947 thousand in the same period in 2023[81] - Gross profit rose to RMB 133,971 thousand in 2024, compared to RMB 116,015 thousand in 2023, reflecting a 15.5% increase[81] - Net profit attributable to owners of the company for the six months ended June 30, 2024, was RMB 87,722 thousand, slightly up from RMB 87,341 thousand in 2023[82] - Revenue from tuition fees increased to RMB 302,546 thousand in the first half of 2024, up from RMB 251,297 thousand in the same period of 2023, representing a growth of approximately 20.4%[97] - Total revenue from customer contracts reached RMB 335,761 thousand in the first half of 2024, compared to RMB 277,947 thousand in the same period of 2023, an increase of 20.8%[97] - Revenue from boarding fees rose to RMB 29,296 thousand in the first half of 2024, up from RMB 21,824 thousand in the same period of 2023, a growth of 34.2%[97] - Other income and gains decreased to RMB 27,832 thousand in the first half of 2024, down from RMB 35,202 thousand in the same period of 2023, a decline of 20.9%[97] Expenses and Costs - Sales and distribution expenses increased by 35.4% from RMB 9.9 million in the first half of 2023 to RMB 13.4 million in the first half of 2024, driven by higher employee costs and advertising expenses[32] - Administrative expenses rose by 20.9% from RMB 36.3 million in the first half of 2023 to RMB 43.9 million in the first half of 2024, primarily due to increased employee costs[33] - Other expenses surged by 53.8% from RMB 9.1 million in the first half of 2023 to RMB 14.0 million in the first half of 2024, mainly due to higher training costs and exchange losses[35] - Employee benefit expenses, including wages and salaries, increased to RMB 117,609 thousand in the first half of 2024, up from RMB 90,387 thousand in the same period of 2023, a rise of 30.1%[103] - Depreciation of property, plant, and equipment rose to RMB 33,064 thousand in the first half of 2024, compared to RMB 28,403 thousand in the same period of 2023, an increase of 16.4%[103] - Government grants related to assets and income decreased to RMB 3,525 thousand in the first half of 2024, down from RMB 4,059 thousand in the same period of 2023, a decline of 13.2%[103] Expansion and Strategic Plans - The company plans to expand its campus network in the Greater Bay Area, focusing on both academic and non-academic vocational education markets, to solidify its position as a leading vocational education provider[20] - The company aims to upgrade Lingnan Vocational and Technical College to a vocational and technical university, with plans to introduce undergraduate programs and establish an innovation talent training model in collaboration with enterprises[21] - The company will pursue mergers and acquisitions to expand its network, targeting high-quality technical schools and non-academic vocational training institutions within the Greater Bay Area[23] - The company is expanding auxiliary education services, including adult continuing education and vocational skill certification training, with 28 social training evaluation outlets established across 9 cities in Guangdong Province[24] - The company is exploring international cooperation in vocational education, focusing on partnerships with institutions in Hong Kong, Macau, Singapore, and the EU to enhance program attractiveness and internationalization[25] - The company is transitioning to a "five-in-one" development model, integrating academic education, vocational training, and technical services, while exploring opportunities in training, talent dispatch, health, e-commerce, and public welfare[26] Financial Position and Assets - Net current assets increased by 171.2% from a net current liability of RMB 70.2 million at the end of 2023 to net current assets of RMB 50.0 million at the end of June 2024[37] - Interest-bearing bank and other borrowings stood at RMB 184.0 million as of June 30, 2024, with interest rates ranging from 3.1% to 6.8% per annum[39] - The leverage ratio decreased from 12.6% at the end of 2023 to 10.9% at the end of June 2024, primarily due to a reduction in interest-bearing bank and other borrowings[45] - Total assets as of June 30, 2024, stood at RMB 1,969,543 thousand, compared to RMB 1,898,434 thousand as of December 31, 2023[83] - Cash and cash equivalents decreased to RMB 271,133 thousand as of June 30, 2024, from RMB 421,417 thousand as of December 31, 2023[83] - Non-current assets totaled RMB 1,919,586 thousand as of June 30, 2024, down from RMB 1,968,597 thousand as of December 31, 2023[83] - Current liabilities decreased significantly to RMB 345,180 thousand as of June 30, 2024, from RMB 567,248 thousand as of December 31, 2023[83] - Net current assets improved to RMB 49,957 thousand as of June 30, 2024, compared to a net current liability of RMB (70,163) thousand as of December 31, 2023[83] - Non-current liabilities increased to RMB 288,765 thousand as of June 30, 2024, from RMB 247,281 thousand as of December 31, 2023[84] - Equity attributable to owners of the company increased to RMB 1,669,292 thousand as of June 30, 2024, from RMB 1,639,720 thousand as of December 31, 2023[84] - The company's total equity increased to RMB 1,680,778,000 as of June 30, 2024, compared to RMB 1,651,153,000 at the end of 2023, reflecting a growth of RMB 29,625,000[85] - Retained profits rose to RMB 1,091,977,000 as of June 30, 2024, up from RMB 1,014,378,000 at the end of 2023, an increase of RMB 77,599,000[85] - The company declared a final dividend of RMB 58,076,000 for 2023, which was deducted from the capital reserve - share premium[85] - The company's capital reserve - share premium decreased to RMB 288,819,000 as of June 30, 2024, from RMB 346,895,000 at the end of 2023, due to the dividend payment[85] - The company's foreign exchange fluctuation reserve decreased to RMB (555,000) as of June 30, 2024, from RMB (481,000) at the end of 2023, reflecting a loss of RMB 74,000[85] - The company's statutory and other surplus reserves increased to RMB 283,458,000 as of June 30, 2024, from RMB 273,335,000 at the end of 2023, reflecting a transfer from retained profits[85] - The company's non-controlling interests increased to RMB 362,000 as of June 30, 2024, from RMB 309,000 at the end of 2023, reflecting a growth of RMB 53,000[85] Cash Flow and Financing - Net cash generated from operating activities was RMB 32,328,000 for the six months ended June 30, 2023, compared to a net cash outflow of RMB 6,195,000 for the same period in 2024[87] - Depreciation of property, plant, and equipment increased to RMB 33,064,000 for the six months ended June 30, 2024, up from RMB 28,403,000 in the same period of 2023[87] - Operating cash flow for the six months ended June 30, 2024 was a net outflow of RMB 6,195 thousand, compared to a net inflow of RMB 32,328 thousand in the same period of 2023[88] - Net cash outflow from investing activities was RMB 61,506 thousand for the six months ended June 30, 2024, compared to a net inflow of RMB 69,961 thousand in the same period of 2023[88] - Net cash outflow from financing activities was RMB 80,614 thousand for the six months ended June 30, 2024, compared to a net inflow of RMB 42,208 thousand in the same period of 2023[88] - Cash and cash equivalents decreased by RMB 148,315 thousand in the six months ended June 30, 2024, compared to an increase of RMB 144,497 thousand in the same period of 2023[88] Corporate Governance and Shareholding - The company had 1,585 employees as of June 30, 2024, with compensation policies regularly reviewed and aligned with industry standards[46] - The company's directors and senior executives held significant equity interests, with Mr. He Huishan holding 46.48% and Ms. He Huifen holding 14.24% of the company's shares[48] - He Huishan holds 18,000,000 shares in Guangzhou Lingnan Education Group Limited, representing a 60.00% stake[51] - He Huifen holds 6,000,000 shares in Guangzhou Lingnan Education Group Limited, representing a 20.00% stake[51] - Zhihui Guang holds 570,000,000 shares in the company, representing a 42.73% stake[53] - Zhou Lanqing, through controlled entities, holds 570,000,000 shares, representing a 42.73% stake, and an additional 50,000,000 shares through spousal interests, representing a 3.75% stake[53] - China Foreign Education holds 190,000,000 shares, representing a 14.24% stake[53] - Han Liqing, through spousal interests, holds 190,000,000 shares, representing a 14.24% stake[53] - Fangyuan Education holds 190,000,000 shares, representing a 14.24% stake[53] - Du Wenyu, through spousal interests, holds 190,000,000 shares, representing a 14.24% stake[53] - The company has a share option plan approved on June 23, 2021, aimed at incentivizing key personnel and retaining talent[56] - The maximum number of shares that may be issued upon the exercise of all options under the plan and any other plans of the group shall not exceed 10% of the total issued shares as of July 13, 2021, which is 133,400,000 shares[57] - The remaining term of the plan is approximately six years as of the report date, and no options have been granted, exercised, canceled, or lapsed under the plan since its adoption[58] - The company has adopted corporate governance practices in line with the Corporate Governance Code and complied with all code provisions during the reporting period[69] - The company's audit committee and management reviewed the accounting principles, policies, and unaudited condensed consolidated financial statements for the six months ended June 30, 2024[72] - Mr. Qiu Jun resigned as CFO effective January 12, 2024, and Mr. Hu Zhenhua was appointed as CFO effective August 28, 2024[73] - No competitive business or conflicts of interest involving directors or their associates during the reporting period[79] - The company is monitoring regulatory changes and ensuring compliance with relevant rules and regulations for future acquisitions[80] Dividends and Shareholder Information - The company has proposed an interim dividend of 2.2 HK cents per share for the six months ended June 30, 2024, payable on September 30, 2024[63] - The company will suspend share registration from September 12, 2024, to September 13, 2024, to qualify for the proposed interim dividend[64] - The company declared an interim dividend of 2.2 HK cents per ordinary share, totaling approximately RMB 26,788 thousand, compared to no dividend in the same period in 2023[108] Regulatory and Compliance - The revised Vocational Education Law in 2022 emphasizes the equal importance of vocational education and general education, encouraging multi-level and multi-form vocational education[17] - The government's policy supports the development of vocational education, aiming to cultivate high-quality technical and skilled talents to meet market demands[17] - The company is applying for approval to establish a new school in California and considering other plans to meet qualification requirements[76] - The company's contractual arrangements remain compliant with the Foreign Investment Law, with no updates to related regulations during the reporting period[77] - The company is monitoring regulatory changes and ensuring compliance with relevant rules and regulations for future acquisitions[80] Miscellaneous - The company has reallocated HKD 209.6 million originally intended for land acquisition to the construction of teaching and administrative facilities and the purchase of teaching equipment[60] - The net proceeds from the global offering of ordinary shares amounted to approximately HKD 446.0 million, after deducting underwriting commissions and other expenses[60] - The company has allocated 14.1% (HKD 63.0 million) of the net proceeds to the construction of teaching and administrative facilities and the purchase of teaching equipment[60] - 25.9% (HKD 115.4 million) of the net proceeds has been allocated to the acquisition of other schools and education service providers to expand the school network[60] - The company has not identified any significant events requiring shareholders' attention between the end of the reporting period and the report date[59] - No purchase, redemption, or sale of any listed securities by the company or its subsidiaries during the six months ended June 30, 2024[66] - No significant investments or future plans for capital asset investments as of June 30, 2024[68] - The company's main business is investment holding and providing private higher vocational education in China[89] - The unaudited interim condensed consolidated financial statements are prepared in accordance with HKAS 34 and presented in RMB, rounded to the nearest thousand[90] - The company adopted revised HKFRS 16, HKAS 1 (2020 amendments), HKAS 1 (2022 amendments), and HKAS 7 during the period, with no material impact on financial position or performance[91][92][93] - The company operates in a single segment, providing higher vocational education services in China, with all revenue and long-term assets/capital expenditures derived from/located in China[94][95] - The company did not have any single customer contributing 10% or more of its total revenue during the reporting period[96] - Contract liabilities at the end of June 2024 stood at RMB 71,062 thousand, compared to RMB 234,117 thousand at the end of December 2023, a significant decrease of 69.6%[100] - Revenue recognized from the beginning contract liabilities balance in the first half of 2024 was RMB 232,439 thousand, up from RMB 176,381 thousand in the same period of 2023, an increase of 31.8%[101] - The company's income tax expense in mainland China for the six months ended June 30, 2024, was RMB 257 thousand, a significant decrease from RMB 1,772 thousand in the same period in 2023[108] - The basic and diluted earnings per share for the six months ended June 30, 2024, were calculated based on a profit attributable to ordinary shareholders of RMB 87,722 thousand, slightly higher than RMB 87,341 thousand in the same period in 2023[109] - The weighted average number of ordinary shares used in calculating basic and diluted earnings per share remained unchanged at 1,334,000,000 shares for both 2024 and 2023[110] - The company sold assets with a net book

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因依 賴該等內容而引致的任何損失承擔任何責任。 SOUTH CHINA VOCATIONAL EDUCATION GROUP COMPANY LIMITED 中國華南職業教育集團有限公司 （於開曼群島註冊成立的有限公司） （股份代號：6913） 截至二零二四年六月三十日止六個月中期業績公告 及 變更本公司首次公開發售所得款項用途 中國華南職業教育集團有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然宣 佈本公司及其附屬公司（統稱「本集團」）截至二零二四年六月三十日止六個月（「報 告期間」）的未經審核中期簡明綜合財務報表，連同二零二三年同期的比較數字。 | --- | --- | --- | --- | --- | |------------------------------------------------------------------------------------------------------------------- ...

股份代號 : 6913 （於開曼群島註冊成立的有限公司） 2023 年 度 報 告 目錄 中國華南職業教育集團有限公司 • 2023 年度報告 2 公司簡介 • 嶺南現代技師學院 ：為一所位於廣州的民辦職業教育機構，為學生提供不同行業的職業教育與 培訓。其主要提供中等職業課程及高等職業課程。於二零二三年十二月三十一日，嶺南現代技 師學院設有7個院系，提供超過27門專業，包括但不限於機電一體化、無人機、汽車檢測與維 修、消防工程、中藥、康復、護理、大數據應用、廣告設計、計算機網絡應用、計算機程序設 計及數字媒體應用等等。 本集團還自若干輔助教育服務產生收益，主要包括繼續教育課程及其他教育服務。其他教育服務主 要包括本集團為在校學生提供的有關職業技能鑑定及專業資格及證書等的備考及培訓服務。該等教 育服務稱為本集團的「輔助教育服務」。 3 中國華南職業教育集團有限公司 • 2023年度報告 | | 頁次 | | --- | --- | | 公司簡介 | 2 | | 公司資料 | 4 | | 財務摘要 | 6 | | 主席報告 | 7 | | 管理層討論與分析 | 10 | | 董事及高級管理層 | 22 | | 董 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因依 賴該等內容而引致的任何損失承擔任何責任。 SOUTH CHINA VOCATIONAL EDUCATION GROUP COMPANY LIMITED 中國華南職業教育集團有限公司 （於開曼群島註冊成立的有限公司） （股份代號：6913） 截至二零二三年十二月三十一日止年度 全年業績公告 及所得款項用途預期時間表的最新情況 於二零二三年十二月三十一日 | | 二零二三年 | 二零二二年 | 二零二二年 | | --- | --- | --- | --- | | | 十二月 | 十二月 | | | | 附註 三十一日 | 三十一日 | 一月一日 | | | 人民幣千元 | 人民幣千元 | 人民幣千元 | | | | （經重列） | （經重列） | | 非流動資產 | | | | | 物業、廠房及設備 | 1,401,860 | 1,291,312 | 1,138,478 | | 投資物業 | 49,839 | 51,770 | 53,700 | ...

主要客戶資料 報告期間內，概無任何提供予單一客戶的服務的收益佔本集團總收益的10%或以上（截至二零 二二年六月三十日止六個月：無）。 39 中國華南職業教育集團有限公司 • 2023 中期報告 中國華南職業教育集團有限公司 • 2023 中期報告 38 未經審核中期簡明綜合財務報表附註 二零二三年六月三十日 4. 收益、其他收入及收益 收益、其他收入及收益的分析如下： | --- | --- | --- | --- | |----------------------------|-------|-------------------------------------|--------------| | | 附註 | 截至六月三十日止六個月 \n二零二三年 | 二零二二年 | | | | 人民幣千元 | 人民幣千元 | | | | （未經審核） | （未經審核） | | 收益 | | | | | | | | | | 客戶合約收益 | | | | | 學費 | (a) | 251,297 | 239,584 | | 寄宿費 | (a) | 21,824 | 20,563 | | 其他教育服務費 | (b) | ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因依 賴該等內容而引致的任何損失承擔任何責任。 SOUTH CHINA VOCATIONAL EDUCATION GROUP COMPANY LIMITED 中國華南職業教育集團有限公司 （於開曼群島註冊成立的有限公司） （股份代號：6913） 截至二零二三年六月三十日止六個月中期業績公告 中國華南職業教育集團有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然宣 佈本公司及其附屬公司（統稱「本集團」）截至二零二三年六月三十日止六個月（「報 告期間」）的未經審核中期簡明綜合財務報表，連同二零二二年同期的比較數字。 財務摘要 截至六月三十日止六個月 二零二三年 二零二二年 變動 百分比變動 人民幣千元 人民幣千元 人民幣千元 (%) （未經審核） （未經審核） （經重列） 收益 277,947 264,548 13,399 +5.1 銷售成本 161,932 141,691 20,241 +14.3 毛利 116,015 122,857 (6,8 ...

股份代號 : 6913 （於開曼群島註冊成立的有限公司） 2022 年 度 報 告 目 錄 | | 頁次 | | --- | --- | | 公司簡介 | 2 | | 公司資料 | 4 | | 財務摘要 | 6 | | 主席報告 | 7 | | 管理層討論與分析 | 10 | | 董事及高級管理層 | 21 | | 董事會報告 | 33 | | 企業管治報告 | 86 | | 獨立核數師報告 | 104 | | 綜合損益及其他全面收益表 | 112 | | 綜合財務狀況表 | 113 | | 綜合權益變動表 | 115 | | 綜合現金流量表 | 117 | | 財務報表附註 | 119 | 公司簡介 中國華南職業教育集團有限公司（「本公司」）連同其附屬公司（統稱為「本集團」是融學歷職業教 育、職業培訓、技師研修、競賽集訓、技能評價、就業服務、創業孵化為一體的綜合技能人才培 養服務提供商，堅持「以服務社會為宗旨，以就業創業為導向，以學生成才為中心，以能力培養為 重點，培養具有良好職業素養、適應社會需要和未來發展趨勢的高素質技能人才」的辦學目標，以 「為社會塑造優秀人才」為使命，堅持「產教融合、校企合作、工學結 ...